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Benzinga

Business

Shivani Kumaresan

FedEx Promotes Raj Subramaniam To Succeed Frederick Smith As CEO

FedEx Raj Subramaniam FDX FedEx Corp FedEx Express NYSE

FedEx Corp (NYSE:FDX) has promoted its President and Chief Operating Officer (COO), Raj Subramaniam, to Chief Executive Officer (CEO) and President, effective June 1, 2022.
The company's Chairman and CEO, Frederick W. Smith, will become Executive Chairman, effective the same date.
Subramaniam has been named President and CEO-elect of FedEx, effective immediately. Subramaniam, who was elected to the FedEx Board in 2020, will maintain his seat on the Board.
Smith and Subramaniam will both report directly to the Board, and the COO position will not be backfilled.
Subramaniam joined FedEx in 1991 and has served in many executive roles over the years, including CEO of FedEx Express.
Price Action: FDX shares closed higher by 1.54% at $230.05 on Monday.

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